15 Dec 2024

HP provides jump-start for Canvera’s success

HP today announced that Canvera, India’s first nationally branded professional imaging service provider, has selected HP solutions and services for delivering consistent, high-quality printing services to customers.

The agreement with HP Financial Services has helped Canvera acquire the wide range of high-performance technology and equipment needed for its launch. Since its inception, Canvera has looked to HP Financial Services to help finance solutions that have spanned server architecture to its photography output platform. This includes HP Indigo presses, HP Designjet printers, HP ProLiant servers, HP business desktop PCs and HP notebook PCs.

By working with HP Financial Services, Canvera is able to reserve capital for strategic purposes, enabling successful execution of other important initiatives, such as sales and marketing programs.

“HP Financial Services has served as a key enabler in allowing us to deploy the state-of-the-art technology equipment we need to remain competitive,” said Dhiraj Kacker, chief executive officer, Canvera. “By working with HP, we are able to consistently provide our customers with the high-quality imagery they demand.”

Growing from a single office located in Bangalore, India, Canvera now operates out of eight locations with more than 500 employees.

HP Financial Services helps clients develop long-term IT investment strategies that provide flexibility and agility as they evolve to an Instant-On Enterprise. In a world of continuous connectivity, the Instant-On Enterprise embeds technology in everything it does to serve customers, employees, partners and citizens with everything they need, instantly.

Additionally, HP Financial Services helps clients extract value from aging assets that no longer meet their needs.

‘Go Large...’ with BAF Graphics as it launches dynamic and highly visual website

BAF Graphics today announces the launch of its user friendly, and highly visual website, which not only provides a very clear insight into the graphic solutions that BAF offer, but also has a strong informative theme running through it.

Alongside product and technology information, real life examples of projects BAF has undertaken with blue chip clients in the office, retail, leisure and museum sectors are detailed with some stunning imagery and explanations to accompany them.

“We decided to completely overhaul our website to give it a fresh, modern look and feel which would be more compelling for visitors,” comments Antony Baglioni, Business Development Director at BAF Graphics. “We also wanted to introduce an informative element to enable visitors who are less familiar with our industry to better understand how our services and capabilities can add value to their business. We feel that this new site is currently the most dynamic website in our market sector.”

 

FESPA welcomes EskoArtwork as exclusive Global Software & Finishing partner

FESPA has welcomed EskoArtwork, the global developer of workflow, automation and quality assurance solutions for packaging, sign and display, commercial printing and professional publishing, as its first and exclusive Global Software & Finishing Partner.

EskoArtwork will now be participating in articles, visitor conference sessions and live debates, including speaker sessions at FESPA exhibitions in Europe, Americas and Asia throughout 2011.

These include FESPA Americas 2011 (Orlando), FESPA Digital 2011 (Hamburg), FESPA Mexico 2011 (Mexico City), and FESPA Asia 2011 (Singapore). EskoArtwork will also participate actively in the FESPA Asia Summit (16-17 June 2011), and in FESPA’s 2011 European Congress event in Sweden, organised in collaboration with FESPA’s member associations in the Nordic region and Iberia respectively.

FESPA Managing Director Frazer Chesterman explains: “At FESPA, we have recognised for several years that our community is showing an increased interest in workflow automation and finishing, as digital technology takes hold and printers focus on optimising efficiency at all stages of production. It’s clear that productivity rests on much more than just the print output device, and as wide format printers achieve a higher level of expertise with digitally printed output, they are exploring other ways of streamlining production to meet customers’ needs and improve profitability.”

Marketing Director at EskoArtwork, Jef Stoffels comments: “Over the course of several years, EskoArtwork has been offering a growing range of software solutions to address the challenges faced by wide format printers, and we have had a physical presence at FESPA events since 2005. Until a few years ago, the sign and graphics sector was relatively slow to adopt specific software workflow solutions, but we are seeing that change rapidly now, as printers recognise the need to remove production bottlenecks to take advantage of faster digital output speeds and manage increased workloads.”

He adds, “FESPA is the ideal partner for EskoArtwork to link our brand more strongly to this marketplace. FESPA is a strong and growing global community in the large format printing and sign and display sectors, all of which are becoming more and more significant for us as a business. At EskoArtwork, we are convinced that our software solutions are at the forefront in this industry, and our digital finishing solutions are recognised to be the industry benchmark with the most productive and versatile systems in the market. This is the beginning of an exciting and promising partnership between our organisations.”

Canon and Océ aim to change landscape of printing industry in Korea

Canon and Océ have announced their intention to enter the Korean commercial printing market. Canon Korea can complement its existing prominent office product portfolio and sales network with the comprehensive Océ range of commercial printers. This will now enable clients such as direct marketing companies, architects and industrial designers to build their business as well. Canon Korea Business Solutions announced the news at a press conference marking the opening of an industry trade fair in the Korean capital Seoul.

Broader product portfolio

Canon, a world leader in imaging solutions, completed its offer for Océ in March 2010 and currently holds an approximately 90% share in the international leader in digital document management. The compelling combination of the two companies is set to change the landscape of the Korean printing industry, by providing printers for use at home, office equipment, larger digital presses and now an array of commercial printers.

Revenues of USD 1 bln anticipated by 2015

Currently, the domestic market for digital printing in Korea is estimated at USD 800 million. The market scope targets audiences including the publishing industry, outdoor advertising, signage, displays, engineering output and construction renderings as well as the photograph printing segment. Canon Korea Business Solutions aims to boost revenue to USD 1 billion by 2015 and double Océ revenue in Korea in years to come. The company also intends to build a new factory in the country by 2013, for which an investment of USD 100 million is required.

“Considerable potential growth opportunities”

“We anticipate an increase in personalised printing in Korea, with more varieties of small quantity printing and high quality printing, rather than large print volumes,” said Michael Sak, Managing Director Océ Direct Export Asia. “We are delighted to work together with Canon Korea Business Solutions in this significant domestic market with considerable potential growth opportunities.” Kim Chun-joo, CEO Canon Korea Business Solutions, added: “Together with our nationwide sales and service network, we intend to change the landscape of the printing market in Korea.”

 

X-Rite announces strong Q4 completing year of double digit growth

X-Rite, Incorporated today announced its financial results for the fourth quarter and full fiscal year ended January 1, 2011. The Company's results reflect broad market strength across all regions and indicate growing success of the Company's go to market initiatives to bring new products and services to an expanding marketplace.

Financial Highlights

  • Fourth quarter 2010 net sales of $59.0 million, up 17.8 percent from the fourth quarter 2009
  • Fourth quarter 2010 operating income of $9.0 million, up $7.5 million from the fourth quarter 2009
  • Fourth quarter 2010 fully diluted earnings per share of $0.05 per share, compared to negligible earnings per share for the fourth quarter 2009
  • Fourth quarter adjusted EBITDA of $15.0 million, up 18.4 percent from the fourth quarter 2009. Adjusted EBITDA was 25.5 percent of net sales in the fourth quarter 2010 versus 25.3 percent of net sales in the fourth quarter 2009
  • Strong year to date cash flow before financing of $31.4 million or 14.1 percent of sales
  • Reduced debt by $10.8 million in the fourth quarter, and $47.0 million in 2010, including the pay off of the Second Lien Credit Facility in September 2010

Reported net sales for the fourth quarter were $59.0 million, a 17.8 percent increase versus the prior year. Three month earnings per fully diluted share in the quarter were $0.05 per share. The Company's net sales for the full year were $222.7 million, an increase of 16.2 percent versus prior year net sales of $191.7 million. Twelve month earnings per fully diluted share were $0.04 compared to a loss of $(0.33) per share for 2009. The Company's sales for the year increased in all core product lines and geographic regions. Leading year-over-year growth were the Company's Industrial, Imaging and Media, and Standards product lines which increased by 22.8, 18.3, and 16.0 percent, respectively. For the year, the Company experienced growth in all regions of the world, including increases in Asia Pacific, Europe and the Americas of 21.1, 18.1, and 11.7 percent, respectively, versus 2009.

Thomas J. Vacchiano Jr., the Company's Chief Executive Officer, stated, "The strong fourth quarter sales, operating performance and financial results capped a very solid fiscal year. The year represented a period of accelerating progress on the product and market development fronts with several new product introductions, customer design wins, and market initiatives, all delivered while continuing to enjoy a strong financial performance with marked improvement in operating income, cash flow, and debt reduction."

With the cost reductions achieved in 2009 and continued cost management in 2010, the Company successfully leveraged higher sales into substantially improved financial results. Full year and fourth quarter 2010 operating income of $29.0 million and $9.0 million, respectively, reflected a dramatic increase compared to the prior full year and fourth quarter operating income of $3.8 and $1.5 million, respectively. Operating income as a percent of net sales increased to 13.0 percent and 15.1 percent, respectively, for the year and fourth quarter ended 2010, compared to 2.0 percent and 3.1 percent for the same periods in 2009.

Adjusted EBITDA of $15.0 million and $56.3 million for the fourth quarter and full year increased by $2.3 million and $11.7 million, or 18.4 percent and 26.0 percent, respectively, compared to the same periods in 2009. The improved operating results combined with working capital efficiencies resulted in cash flow before financing activities of $31.4 million, or 14.1 percent of sales, for the year. Cash flow before financing activities for 2010 increased by $7.1 million, or 29.2 percent, compared to 2009.

Total debt payments for the quarter and year were $10.8 million and $47.0 million, respectively. The Company reduced net debt from secured credit facilities by $29.6 million to $124.9 million compared to $154.5 million at the year-end 2009.

Rajesh K. Shah, the Company's Chief Financial Officer, commented, "I am pleased that the Company's financial performance has been able to support product and market investments to drive growth while at the same time we have remained focused on improving our capital structure as highlighted by our current year and two year cumulative secured debt repayments of $47.0 and $92.7 million, respectively. We will remain attentive to the need to deliver improving financial results while still investing in our future."

Vacchiano closed by saying, "The continued improvement in revenue and profitability is a result of our initiatives as well as improved market conditions. We commence 2011 with a strong product portfolio and with more exciting product introductions planned for 2011. We believe we have the momentum and opportunities for continued growth across all our core product lines and regions in 2011. At this point, we expect to report double digit sales growth in the first quarter of 2011 compared to the first quarter last year."

Puntes transforms production and branding with support of EskoArtwork technology

Spanish print service provider Puntes streamlined and renewed its production set-up with the investment in a raft of EskoArtwork technology. The company enjoys a long-standing relationship with EskoArtwork, and recently installed a CDI Spark 5080 with HD Flexo technology, Digital Flexo Suite software and Kongsberg XL22 cutting table. The installation enabled Puntes to grow on an international level and establish a stronger presence in foreign markets.

Puntes believes its relationship with EskoArtwork helped put the company on a very strong footing. “One of our key objectives is to become a technology leader, and EskoArtwork is helping us realise this goal. Our commitment to their technology proved to be the right decision, " explains Miguel Angel, Company Manager of Puntes. “We’ve increased our production capacity, reduced human error, driven down costs and improved our turnaround times. The EskoArtwork solutions have brought us much closer to our customers, and opened up new, more effective ways of working".

Considerable growth in flexo department
Responding decisively to shifting market trends has been a cornerstone of Puntes’ success. The company noticed the flexo market is growing at the expense of rotogravure and other printing methods and has set about standardizing its processes accordingly. Sergio Montañés, Commercial Director at Puntes, explains: “You need to be in a position to respond to this trend. We have been applying flexo techniques for many years and are achieving results similar to gravure. With the EskoArtwork solutions, we have the necessary tools to offer our clients outstanding quality and achieve results that rival other printing techniques. We are changing clients’ perceptions regarding the quality of flexo. They particularly appreciate the lower costs, greater flexibility and environmental aspect. "

Streamline production results in improved customer satisfaction
For Montañés, the cooperation with EskoArtwork has helped the company improve customer satisfaction. The overall installation provided Puntes with a complete solution that allows them to meet all their customers’ requirements. Not only is the set-up now more reliable, they also have efficiency-enhancing tools that improve the way they work. For example, customers can review work online before processing the plates, which saves time and minimizes costly re-working. "One of our overarching aims is to help our customers streamline their operations to make them more profitable. This gives them a stronger platform for growth – and we plan to grow with them,” says Montañés.

Following this philosophy, Puntes is undertaking a re-branding exercise. This includes a new logo and a revamped website to detail its new offering and highlight its expertise, innovation, high-quality output and personalised customer service.

Another major benefit has been minimising human error, which led to healthier profit margins on jobs. Because of a far more automated production, there are no issue with errors and Puntes is able to achieve more reliable and precise results. "We know that the products we deliver are exactly what our clients are expecting, which helps establish us a very dependable partner in the market,” concludes Angel. "Investing in market-leading technology is essential for growth, and we believe that our latest investment was a safe bet despite the challenging economic climate,"